HI SB1066

Increases the board of trustees for the Hawaii Employer-Union Health Benefits Trust Fund from 10 to 12 members, comprising 6 employee-beneficiary and retiree trustees and 6 public employer trustees.

Allows the EUTF board to appoint or retain an independent attorney (rather than using the Attorney General) to serve as legal adviser, with required Employee Retirement Income Security Act experience.

Raises quorum requirement from 6 trustees to 8 trustees, with 4 representing public employers and 4 representing employee-beneficiaries and retirees.

Establishes that all trustees have a fiduciary duty to the employee-beneficiaries of the fund and specifies how benefit plans are funded based on collective bargaining contributions, legislative appropriations for retirees, and employer-employee contributions for other beneficiaries.

Transfers administrative oversight of the EUTF from the Department of Budget and Finance to the Department of Human Resources Development, effective July 1, 2011.